Cosco Shipping Heavy Industries, the shipbuilding and equipment manufacturing subsidiary of Cosco Shipping Corporation, has formally started the process for a domestic A-share listing after completing its regulatory filing for IPO guidance.
The planned Shanghai listing is being positioned as a strategic step for the group as it seeks to strengthen its financing capacity and support further growth in its global business.
Founded in December 2016, Cosco Shipping Heavy Industries was created through the integration of shipbuilding and ship-repair assets inherited from the former China Ocean Shipping (Group) Company and China Shipping (Group) Company. The company is headquartered in Shanghai and completed its shareholding transformation in June 2026.
Its activities are organised around four main business lines: new shipbuilding, offshore engineering, ship repair and conversion, and marine supporting products.
A substantial shipbuilding orderbook
By the end of 2025, the company had secured 79 new shipbuilding orders with a combined value of RMB 41.3 billion ($6.15 billion). During 2025, it delivered 62 vessels representing a total of 6.31 million deadweight tons.
Its overall newbuilding orderbook stood at 216 vessels, representing 24.77 million dwt. Of these, 76 vessels, with a combined capacity of 8.11 million dwt, were still under construction at the end of the year.
The offshore engineering business also continued to build its project pipeline. Cosco Shipping Heavy Industries won 17 new offshore-related projects during 2025 and had 34 offshore projects under execution or in its backlog at year-end.
Meanwhile, its ship repair and conversion operations completed work on 1,324 vessels during the year.
Nine shipyards across China
Cosco Shipping Heavy Industries operates nine major shipyards distributed across Jiangsu, Liaoning, Zhejiang, Shanghai and Guangdong.
The network comprises NACKS (Nantong Cosco Shipping Kawasaki Ship Engineering), DACKS (Dalian Cosco Shipping Kawasaki Ship Engineering), Yangzhou Cosco Shipping Heavy Industries, Nantong Cosco Shipping Ship Engineering, Qidong Cosco Shipping Offshore Engineering, Dalian Cosco Shipping Heavy Industries, Zhoushan Cosco Shipping Heavy Industries, Shanghai Cosco Shipping Heavy Industries and Guangdong Cosco Shipping Heavy Industries.
The planned A-share IPO is expected to diversify the company’s financing channels as it prepares to fund a range of capital-intensive projects.
Among the planned investments are new production bases in Tianjin and Yangjiang, major dock upgrades, smart manufacturing initiatives and research and development focused on green vessels.
The additional financing capacity would also support the company’s ambitions in high-end and green maritime equipment, vessel construction, offshore engineering and ship repair and conversion.
With the domestic listing process now formally under way, Cosco Shipping Heavy Industries is preparing to use the capital markets to support the expansion and technological development of its shipyard network and wider maritime businesses.
